As of 1 October 2019, those working in the UK’s construction industry might have to handle and pay VAT in a different way following the introduction of the new VAT reverse charge system.
What is the VAT domestic reverse charge for construction services?
...Being in the finance industry we tend to use a lot of technical jargon, acronyms and procedures. One such procedure happens when we are requested to act for new individuals and companies.
Letter of Engagement
At the start of any professional relationship we will request a...
There is currently a lot of talk about Making Tax Digital and software but the basics behind this is bookkeeping.
Bookkeeping is simply keeping tabs of all of your financial transactions that relate to your business. There are several methods of bookkeeping,...
V-A-T as easy as 1 2 3 … or is it?
If you make both taxable and exempt supplies and incur input tax that relates to both kinds of supply, you are classified as ‘partly exempt’. This often applies to landlords with multiple properties, where one has been opted to tax and another has not....
Making Tax Digital for Vat (MTD) is now live, but not many people seem to be signing up for it. Why not? Well … you don’t have to sign up straight away and some businesses don’t have to start complying yet.
As our Making Tax Digital page says – businesses with Vatable turnover over £85,...
Payroll Updates
Here we are, getting close to the end of the tax year, doesn’t time fly when you’re having fun? Lots of changes going on for the world of business and for the workers its good news for some, it’s the time of the National Minimum Wage increases.
The...
“Avoiding large tax bills so more of your money stays in your pocket”
Another year, another blog, another tax advisor telling you to prepare for the end of the tax year. As the end of the current tax year approaches, there is an incomprehensible amount of articles online about...
I hope you all had good Christmas and a Happy New Year… Here we are again, new year, new challenges. Now we are all back to normality let’s get down to the nitty gritty and deal with that self-assessment tax return deadline which is quickly approaching!
I am sure on top of everyone’s...
Hammond Giveth, and he taketh away
There’s been a lot of fuss in the media lately about the latest budget, with technical jargon being thrown about in what I’m assuming is a competition so see who can overcomplicate everything the most. With that being said, here are some of the...
